Jul
21

The Central Bank of Malta Issues Directive 19 on the Use of Cheques and Bank Drafts

News_SAC
This article was written by​ Dr Michael Psaila and Mr Neeraj Bharwani. Directive No 19 on the Use of Cheques and Bank Drafts ('the Directive') was issued by the Central Bank of Malta on 7 th July 2021 with the aim of promoting safe and effective use of cheques and bank drafts ('paper-based instruments') drawn on Maltese banks and financial institutions. Furthermore, institutions which exercise their passporting rights to provide their services in Malta, post office giro payment institutions and the Central Bank of Malta ('Bank') when acting as a payment service pr...
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Jul
16

Proposed Amendments to Companies Act may require Amendments to all current Memorandums and Articles of Associations

News_SKYR
Bill No. 233 of 2021 proposes a number of amendments to the Companies Act, Chapter 386 of the Laws of Malta. These amendments relate to the qualifications required for a person to be a director of a company, the registration of electronic addresses and the obligation of every company to have a register of officers' and shareholders' residential addresses. One of these amendments falls under Article 69 of Chapter 386, which reflects the contents which are to be established within the memorandum of association of a company. Currently, Article 69(1)(d) of the Compani...
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Jul
08

MFSA Reminder: Existing CSPs to Comply with new Rules by September

News_BFB
This article was written by Dr Simon Pullicino , Dr Petra Attard , and Dr Laura Spiteri The Malta Financial Services Authority (' MFSA ') has issued a circular directed at authorised company service providers (' CSPs ') that were registered to provide CSP services prior to the entry into force of the new CSP rules . CSPs that offered CSP services on the date of entry of the new rules – 16 March 2021 – could only continue to offer such services if they applied for authorisation with the MFSA by the 16 May 2021. This application for authorisation resulted in the MFS...
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Jun
09

The Malta Nomad Residence Permit

News_WFH
Residency Malta Agency, the local Government entity responsible for the management and promotion of Malta's residency-by-investment programmes, has launched a new residence permit, the Nomad Residence Permit. This initiative offers third-country nationals the opportunity to work remotely and reside in Malta for a temporary period. The holder of a Nomad Residence Permit shall retain their current employment in another country whilst residing in Malta. The residence permit is issued for one year and can be renewed upon the discretion of the authority if the holder o...
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Jun
02

30th June Deadline Nearing for Britons to Secure Residency Status in Malta

News_Brxt
30 th June 2021 Deadline Nearing for Britons to Secure Residency Status in Malta Thousands of British nationals living across the European Union only have a few weeks left to regularize their residency status in their country of residence, including Malta. Since Brexit, fourteen countries, including Portugal, Spain, and Italy, have automatically granted post-Brexit rights to British nationals residing in their country lawfully. However, in several other countries, including Malta, British nationals have had to apply for the residency status as their right to resid...
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